A 3527
Decreases the premium receipts tax for surplus lines insurance coverage.
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Sign in to take action- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill reduces the premium receipts tax for surplus lines insurance coverage in New Jersey from 5% to 3%. Surplus lines insurance covers risks that cannot be handled by standard insurance companies. The bill aims to lower the cost of this type of insurance for consumers and businesses. It also clarifies that, for policies covering fire insurance in certain municipalities, all of the 3% tax will be paid to the New Jersey State Firemen’s Association, as it was previously under existing law.
Sponsors
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Primary sponsors
Gary Schaer
Cosponsor
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